Account purpose
The Social Affairs Mudaraba Savings Account is designed for individuals or families who want to set aside a flexible savings pattern to cater for an upcoming social event. It gives the customer ample time to plan for such events in a manner that aligns with their routine income-generating capacities.
Shariah contract applicable
This Account will operate based on the Mudarabah principle of profit sharing. It will be a partnership contract between the APS Islamic Microfinance and the Customer. The client provides funds (Rabul-Mal) and the APS Islamic Microfinance (Mudharib) does the investments in compliance with the Shariah principles. Profits will be distributed based on a pre-agreed ratio.
Features and benefits
- Fast and easy account opening process
- The product is fully Shari’ah compliant
- Attractive Profit rate and Quarterly profit payments
- Low operating requirements
- Accessible from all Branches and Agents countrywide
- Low-risk ratings for the Customer (Rabul-Mal)
- Can be used as a security to secure a facility
- Lots of complementary services
- E-Alerts
- Internet Banking (web & Mobile app)
- Business Advisory
- Training & Coaching
